over the weekend bitcoin recovered back to $34K after going below $30k and early this money the market jumped to above $38k breaking the $35k market bench mark, a move that many will see as a bull market movement. am very optimistic that in the coming days of the week bitcoin market is going to make a significant upward movement that will make it price recover back to it all time price of $64k and there after recording a new all time high.
what are your takes on the current bitcoin market movement.
In my opinion, the bitcoin market movement is currently undergoing a correction. It was the aftermath of the sell-off due to concerns about the banning effect of China Evergrande Group and investors focusing on the policy direction of the United States central bank, the Federal Reserve. But I think this decline is still within reasonable limits considering Bitcoin still has the potential to increase again.
Correction is probably over as it has bounced back already and it looks like it's going uptrend. Although we don't ascertain the future, based on the trend, it looks like bitcoin is gonna end bullish in the last quarter, at least that's the status now so far.